International media highlights security, investment agreements at Baku Energy Week

London-based international media organisation Nova Era Global (NE Global) has published an analysis of this year's Baku Energy Week, highlighting the event's focus on energy security, regional cooperation, and major investment agreements.

Held from June 1 to 3, the annual gathering brought together government officials, energy executives, financial institutions, and industry experts to discuss global energy challenges and emerging opportunities in both conventional and renewable energy sectors, Caliber.Az reports per local media.

According to the publication, Azerbaijani President Ilham Aliyev emphasised in his opening remarks the importance of balancing energy security with the expansion of renewable energy capacity. The event also featured a message from U.S. President Donald Trump, delivered by Assistant Secretary of State for Economic, Energy and Business Affairs Caleb Orr, which underscored Azerbaijan's contribution to global energy security.

During the Baku Energy Forum, Azerbaijan's Energy Minister Parviz Shahbazov called for greater diversification of energy supply routes and sources amid growing concerns over global energy resilience. The event also hosted the first meeting of energy ministers from member states of the D-8 Organisation for Economic Cooperation.

Elchin Amirbayov, Special Representative of the President of Azerbaijan, highlighted the country's strategic role in supporting Europe's energy security, noting Azerbaijan's expanding network of energy partnerships.

NE Global reported that Azerbaijan currently exports natural gas to 16 countries, including 10 member states of the European Union. The country also aims to significantly increase the share of renewable energy in its energy mix, with renewables projected to account for approximately 42% of electricity generation by 2035.

The publication placed particular emphasis on a series of agreements signed during the event. According to the report, Azerbaijan's Ministry of Economy and the State Oil Company of Azerbaijan Republic (SOCAR) concluded agreements and memorandums of understanding with international partners worth approximately $7.5 billion.

Among the most significant deals highlighted were a cooperation agreement between Azerbaijan and the United States concerning critical minerals and rare earth elements, as well as a long-term gas supply agreement involving SOCAR, TotalEnergies, XRG, and Türkiye's BOTAŞ. Under the arrangement, up to 30 billion cubic metres of natural gas from Azerbaijan's Absheron field are expected to be supplied to the Turkish market over a 15-year period beginning in 2029.

By Sabina Mammadli